Sensex trims gains on selling, still up 88.99 points

Sensex trims gains on selling, still up 88.99 points Mumbai: The BSE benchmark Sensex trimmed its initial rally on Friday amid bouts selling in heavy weight counters like oil and gas, FMCG, realty, banking and PSUs, but was still trading higher by 88 points.

However, the market surged over buying mainly in IT, tech and consumer durable sectors on the back of announcement of bullish Infosys Q3 earnings.

The BSE 30-share index, Sensex, resumed strong at 19,813.64 and hovered between 19,839.80 and 19,727.12 points late morning deals.

It quoted 19,752.54 at 1030 hrs, up by 88.99 points 0.45 percent from its previous close.

The NSE 50-stock index Nifty was also up by 14.35 point or 0.24 percent and quoted 5,983.00 at 1030 hrs.

Major gainers were - Infosys (13.30 percent), TCS (3.29 percent), Wipro (2.96 percent), Sterlite (2.03 percent) and Maruti Suzuki (0.86 percent).

Major losers were - HUL (2.01 percent), ITC (1.74 percent), ONGC (1.67 percent), Tata Power (1.43 percent) and L&T (1.12 percent).

Foreign Institutional Investors (FIIs) bought shares worth Rs 249.50 crore yesterday, as per provisional data from the stock exchanges.

Meanwhile, Asian stocks were trading lower in early trade, with key indices in China, Hong Kong, Japan, Singapore and South Korea slipping by 0.02-0.77 percent on Chinese inflationary concerns.

PTI